Noram Ventures (TSXV: NRM) this morning announced that completion of yet another drill hole at its ongoing exploration program for its flagship Zeus lithium project, located in the Clayton Valley of Nevada. The latest hole, CVZ-67, reportedly ended in mineralization at a depth of 502 feet, the deepest hole drilled to date at the project.
The company has reportedly intersected 281 feet, or 85.6 metres, of claystones within the drill core, with drilling ending in blue claystone, which historically has shown strong lithium figures at the property. The hole was also the furthest southeast hole drilled on the property.
Samples have been sent off for rushed assaying as has become customary for the company, with assays now pending. Notably, the core reportedly hit a probably fault zone at 310 feet of depth, with the angle of the bedding changing below this point. This indicates that the fault block is somewhat tilted in relation to nearby blocks.
“This is another important drill hole for Noram. It is the deepest drilled to date with visually favourable claystones apparent at the bottom. We were very pleased to see this and expect the results to be consistent based upon the yield of these claystones from prior drilling. The Company has not previously drilled in this area, nor at these depths; consequently, the results will significantly impact the resource modelling. From visual inspection alone, it appears that CVZ-67 once again confirms our theories on both the dip and direction of the resource.”Brad Peek, consulting geologist
Noram Ventures last traded at $0.77 on the TSX Venture.
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